Intercorp Financial Services (NYSE:IFS) Shares Gap Up – Here’s Why

Intercorp Financial Services Inc. (NYSE:IFS) gapped up prior to trading on Tuesday . The stock had previously closed at $47.16, but opened at $49.66. Intercorp Financial Services shares last traded at $53.3850, with a volume of 46,264 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IFS shares. Wall Street Zen upgraded shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of Intercorp Financial Services from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercorp Financial Services in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, Intercorp Financial Services currently has an average rating of “Buy” and an average target price of $56.00.

Intercorp Financial Services Stock Up 1.6%

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average is $48.09 and its 200-day moving average is $46.37. The company has a market cap of $5.93 billion, a PE ratio of 9.98, a PEG ratio of 0.74 and a beta of 0.80.

Intercorp Financial Services (NYSE:IFS) last issued its earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share (EPS) for the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. The company had revenue of $508.76 million for the quarter. On average, analysts predict that Intercorp Financial Services Inc. will post 5.82 EPS for the current year.

Intercorp Financial Services Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were issued a dividend of $1.80 per share. This is an increase from Intercorp Financial Services’s previous annual dividend of $1.00. This represents a yield of 401.0%. The ex-dividend date of this dividend was Friday, April 24th. Intercorp Financial Services’s dividend payout ratio is currently 31.96%.

Institutional Trading of Intercorp Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schroder Investment Management Group increased its holdings in Intercorp Financial Services by 34.2% during the fourth quarter. Schroder Investment Management Group now owns 750,628 shares of the company’s stock valued at $31,797,000 after buying an additional 191,217 shares during the last quarter. Millennium Management LLC increased its holdings in Intercorp Financial Services by 66.7% during the fourth quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock valued at $27,084,000 after buying an additional 255,753 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Intercorp Financial Services by 7.2% during the fourth quarter. JPMorgan Chase & Co. now owns 631,168 shares of the company’s stock valued at $26,736,000 after buying an additional 42,149 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Intercorp Financial Services by 15.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 581,245 shares of the company’s stock valued at $23,447,000 after buying an additional 78,333 shares during the last quarter. Finally, William Blair Investment Management LLC increased its holdings in Intercorp Financial Services by 18.7% during the fourth quarter. William Blair Investment Management LLC now owns 446,887 shares of the company’s stock valued at $18,930,000 after buying an additional 70,288 shares during the last quarter.

About Intercorp Financial Services

Intercorp Financial Services (NYSE:IFS) is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.

The company’s core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.